Office Lab Warehouse
For Sale
Contact for pricing
62 N Summit Street, Akron, OH 44308
Freestanding 15,000 SF office, lab, and warehouse building with six lab rooms and 11' clear dock-high space.
Property Size15,000 SF
Price / SF$126.67
Days on Market106
Property Features for 62 N Summit Street
General Information
Standard status
Active
Size
15,000 SF
Property subtype
Office, Industrial
Listing Agency:
Cushman & Wakefield CRESCO Real Estate
Listed By:
Alex Valletto · License #OH 2023000834
Source:
Crexi
Added: Apr 22
Changed: Jul 22
Last Checked: Jul 22 at 10:54AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Cushman & Wakefield CRESCO Real Estate
Investment Insights
Based on property information with market context.
This freestanding office/lab/warehouse building offers a mix of functional workspaces and warehouse space. The lab component includes six lab rooms featuring bench-top Kewaunee model H36 equipment, along with six 6-foot walk-in Kewaunee 3x model H32 units and additional custom 3x deep configurations. The warehouse portion provides approximately 5,000 SF of 11' clear height with a dock. Newly built modern offices were added in 2011.
The property sits on 0.86 acres and includes a paved parking lot with 26 spaces, with room on the site to expand parking and/or the building.
The layout supports both controlled laboratory spaces and dock-access warehouse operations in a single-use facility.
The property sits on 0.86 acres and includes a paved parking lot with 26 spaces, with room on the site to expand parking and/or the building.
The layout supports both controlled laboratory spaces and dock-access warehouse operations in a single-use facility.
Key Highlights
- Freestanding 15,000 SF office/lab/warehouse building near Downtown Akron
- Includes six (6) lab rooms with 16 6‑ft bench‑top Kewaunee H36 units and six (6) 6‑ft walk‑in Kewaunee H32 units plus 3x deep/custom
- 5,000 SF warehouse area with 11' clear height and a dock
Financial Insights For Flex RnD
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $216.0k | $14.40 |
| − Vacancy | −$8.6k | −$0.58 |
| EGI | $207.4k | $13.82 |
| − OpEx | −$72.6k | −$4.84 |
| NOI | $134.8k | $8.99 |
15,000 SF · lease $14.40/SF/yr · vacancy 4.00% · expense 35.00%
Alternative Uses
Best Use
Office B
$2.53M
$2.22M – $2.96M
NOI $177,406 @ 7.0% cap · market cap 9.34%
Second Best
Flex RnD
$1.93M
$1.68M – $2.25M
NOI $134,784 @ 7.0% cap · market cap 7.09%
Theoretical Best
Office A
$3.68M
$3.22M – $4.29M
NOI $257,679 @ 7.0% cap · market cap 13.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,456
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 44308, OH
1,037
Population
478
Households
2.2
Avg Household Size
30
Median Age
40%
College-Educated
95%
High-School Grad
0.5 sq mi
ZIP Area
2,074
Density / Sq Mi
$15,473
Median Household Income
$8,924
Median Earnings
$733
Median Rent
$433,300
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Goode Catering Co. — 174 S Main St, Akron, OH 44308
- Quaker Station Catering — 135 S Broadway St, Akron, OH 44308
Frequently Asked Questions
What type of property is this?
Flex space - Freestanding 15,000 SF office, lab, and warehouse building with six lab rooms and 11' clear dock-high space.
Where is this flex space located?
The property is located at 62 N Summit Street Akron, OH.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Freestanding 15,000 SF office/lab/warehouse building near Downtown Akron; Includes six (6) lab rooms with 16 6‑ft bench‑top Kewaunee H36 units and six (6) 6‑ft walk‑in Kewaunee H32 units plus 3x deep/custom; 5,000 SF warehouse area with 11' clear height and a dock
